April 1, 2023

Dubai Week

Complete Dubai News World

“Zoom” boss sacked after less than a year


US company “Zoom” has fired its CEO Greg Tom less than a year after taking office.

And the company said in a statement published by the “Middle East” website that Tom, a former Google executive, will receive the final benefits of the service under the provisions in place in cases of contract termination, without disclosing the reasons for the same. Sudden end.

He pointed out that the decision to fire the head of the company, who took over his job last June, will take effect from Friday.

A company spokeswoman said the company is not currently looking for a replacement for Greg Tom.

Last Monday, “Zoom” revealed a continuation of the mounting difficulties it faced at the end of the boom period that coincided with the coronavirus (Covid 19) pandemic to record losses in the last quarter of the last financial year.

It indicated that its total revenue for the last quarter ended January 31 was $1.1 billion, up 4 percent from the same period in the previous fiscal year.

It said it posted a net loss of $104 million, compared with a profit of $490.5 million in the corresponding period.

At the same time, he indicated that in the current financial year, he expects to achieve higher financial results than analysts’ estimates.

And earlier last month, the company announced its intention to lay off 1,300 employees, representing 15 percent of its workforce.


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